Connect Mathcad to a Forex Web Service

This Mathcad worksheet automatically downloads historical forex (or foreign exchange rate) rates. It does this with a VBScript component that imports data from a web service. You simply need to specify two currencies (via the three-letter currency codes) and two dates. Currency codes can be found at http://www.xe.com/iso4217.php

Mathcad will then download the closing bid prices for each trading day between the two dates and place the data in a table.

Mathcad Forex ImportThis Forex data can then be analysed in Mathcad. As an example, Bollinger Bands are plotted. These are used by technical traders on the foreign exchange markets to determine when it is appropriate to buy or sell specific currencies.

Mathcad Bollinger BandsNearly all of the movement of exchange rates is between the two Bollinger Bands. When the exchange rate hits the bottom band, it’s likely to rebound upwards, and when the exchange rate hits the top band it’s likely to fall. Traders use this behaviour (along with many other signals) to indicate when to buy or sell specific currencies.

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Download Mathcad worksheet to connect to a Web Service to download Forex Data


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